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Research Paper IJMSRR Impact Factor 0.348 E- ISSN - 2349-6746 ISSN -2349-6738 Research Paper IJMSRR Impact Factor 0.348 E- ISSN - 2349-6746 ISSN -2349-6738 COMPARATIVE OPERATIONAL EFFICIENCY OF PRIVATE AIRLINES IN INDIA Dr. A. Muthusamy Associate Professor, Dept. of International Business and Commerce, Alagappa University, Tamilnadu, India. INTRODUCTION The aviation sector has become the most important segment in the economic development of a nation. It plays a vital role in moving people or products from one place to another, be it domestic or international, especially when the distances involved are far. Stiff competition and favorable initiatives of the Government of India added fuel to enlarge both flights and fleets. Now ordinary citizens easily access the aviation service from their respective air terminals. In a highly competitive environment the provision of high quality services to passengers is the core competitive advantage for an airline's profitability and sustained growth. In the past decade, as the air transportation market has become even more challenging, many airlines have turned to focus on airline service quality to increase service satisfaction. The aviation industry in India has gone through yet another very difficult year of operations due to high operating costs and slump in demand, resulting into industry showing substantial losses for Fiscal 2013. Crude oil prices continued to be very high and airlines were not able to pass on full impact of increase to the passengers. In addition, depreciation of Indian rupee against US Dollar had put significant pressure on the cost line of the airlines. IMPORTANCE OF THE STUDY The Indian civil Aviation industry has helped in the growth of the Indian economy. The private Airlines have also contributed to the Indian Airlines industry of Air Transportation. The private Airlines have played a major role in this mass cargo transportation of food grains and other things in Import and Export. The private Airlines consist of both major Air Transport of Passenger on one hand and also relatively load on the Goods of cargo on the other. They are not only play an important role in Air Transportation of private Airlines and cargo but also contribute substantial value addition in term of service quality, passenger satisfaction, Innovation and cost effectiveness of the Private Airlines in India. In this paper, an attempt to analysis comparative operational efficiency of Selected Private Airlines in India. METHODOLOGY The study is empirical in nature and executed using the data published by civil aviation in India. The research study is based on secondary data. The financial data related to the selected Private Airlines were collected from website and Annual reports of selected Private Airlines. PERIOD OF THE STUDY The present study covers a period of five years taking from March 2009 to March 2013. SAMPLING DESIGN The sample Private Airlines are selected on the basis of convenient sampling method .A sample of four Private Airlines has been selected on the basis of availability of data and also these four Private Airlines are the main largest Air Transport in the private Airlines. The following Private Airlines have been selected for the study i. Jet Airways ii. Spice Jet iii. Kingfisher Airlines iv. Jagson Airlines International Journal of Management and Social Science Research Review, Vol.1, Issue.9, March- 2015. Page 40 Research Paper IJMSRR Impact Factor 0.348 E- ISSN - 2349-6746 ISSN -2349-6738 INCOME AND EXPENSES OF JET AIRWAYS, SPICE JET, KINGFISHER AIRLINES AND JAGSON AIRLINES The following table highlights the income and expenses earned during the study period. t –Test for Jet Airways, Spice Jet, Kingfisher airlines and Jagson Airlines Limited. Null Hypothesis: There is no significant relationship between Income and Expenses of Jet Airways, Spice Jet, Kingfisher airlines and Jagson Airlines The following table.1 gives the particulars of Income and Expenses of sample airlines during the period of 2008- 2009 to 2012-2013. Table 1, Income and Expenses of Jet Airways, Spice Jet, Kingfisher Airlines and Jagson Airlines (Rs.In crores) Jet Airways Spice Jet Kingfisher airlines Jagson Airlines Year Income Expenses Income Expenses Income Expenses Income Expenses 2008-09 12014.90 10969.32 1438.58 5822.37 5868.07 679.13 7.55 7.89 2009- 10 10688.39 8329.85 1786.48 4747.51 4734.62 1498.84 11.69 13.10 2010-11 13033.09 10267.73 2242.09 5289.34 6314.96 670.30 10.79 13.65 2011-12 15477.39 13369.66 2950.83 7651.81 5823.91 5 17.66 13.12 2012- 13 17509.71 15946.66 4019.11 3309.65 683.46 0.05 0.49 1.35 Mean 13744.70 11776.64 2487.42 5364.13 4685 4 9.64 9.82 SD 2739.40 2946.85 1026.21 1585.10 2311.29 1.013 6.28 5.29 T-Test Paired Two Samples for Mean Income and Expenses of Airways Limited Jet Airways Spice Jet Kingfisher airlines Jagson Airlines Mean 1968.05 460.77 679.13 0.19 SD 675.03 775.45 1498.84 2.81 Std Error Mean 301.88 346.79 670.30 1.25 Observation 5 5 5 5 Hypothesized 0.05 0.05 0.05 0.05 Mean Difference Df 4 4 4 4 T stat 6.52 1.328 1.013 0.15 Source: Computed. Result Jet Airways Comparing the calculated value of ‘t’(6.52) with table value of ‘t’ for degrees of freedom =(5-1)=4, and at 5% level of significance(2.77) two tail test, it is clear that the calculated value of ‘t’ is greater than that of the table. So the null hypothesis is rejected. It reveals that increase in income will result in increase in expenses Spice Jet Comparing the calculated value of ‘t’(1.328) with table value of ‘t’ for degrees of freedom =(5-1)=4, and at 5% level of significance(2.77) two tail test, it is clear that the calculated value of ‘t’ is lesser than that of the table. So the null hypothesis is accepted. It reveals that decrease in income will result in decrease in expenses. Kingfisher Airlines Comparing the calculated value of ‘t’(1.013) with table value of ‘t’ for degrees of freedom =(5-1)=4, and at 5% level of significance(2.77) two tail test, it is clear that the calculated value of ‘t’ is lesser than that of the table. So the null hypothesis is accepted. It reveals that decrease in income will result in decrease in expenses. International Journal of Management and Social Science Research Review, Vol.1, Issue.9, March- 2015. Page 41 Research Paper IJMSRR Impact Factor 0.348 E- ISSN - 2349-6746 ISSN -2349-6738 Jagson Airlines Comparing the calculated value of ‘t’(0.15) with table value of ‘t’ for degrees of freedom =(5-1)=4, and at 5% level of significance(2.77) two tail test, it is clear that the calculated value of ‘t’ is lesser than that of the table. So the null hypothesis is accepted. It reveals that decrease in income will result in decrease in expenses. Co-efficient of Variation Compare the Performance of Private Airline companies by using statistical tool as co-efficient of variation is used. The following table 4.14.1 gives the particulars of Private Airline companies Operating Profit during the period of 2008-2009 to 2012-2013. Table- 2, Operating Profit of the Selected Private Airline Companies (Rs.In crores) Year Jet Airways Spice Jet Kingfisher Jagson Airlines Airlines 2008-2009 601.82 3.16 553.20 0.68 2009-2010 2108.72 51.96 320.41 1.80 2010-2011 2514.79 429.73 944.04 3.93 2011-2012 1855.02 505.44 2158.40 13.12 2012-2013 902.93 598.36 2808.27 1.35 Mean 1596.66 317.74 1356.86 4.18 SD 812.85 272.08 1076.98 5.15 C.V 50.91 85.63 79.37 123.21 Among the four Private Airline companies, the Operating Profit of Jet Airways Limited is more consistent as the co-efficient of variation is less and also Jet Airways Limited is having better Operating Profit as the average is higher. The following table 3 gives the particulars of Private Airline companies Interest Earned during the period of 2008-2009 to 2012-2013 Table - 3, Interest Earned by the Selected Private Airline Companies (Rs.In crores) Year Jet Airways Spice Jet Kingfisher Jagson Airlines Airlines 2008-2009 1450.86 266.32 2029.33 2.03 2009-2010 1824.74 374.95 2245.59 1.70 2010-2011 1872.72 409.78 2340.32 1.62 2011-2012 2011.24 439.68 1276.34 0.68 2012-2013 1118.98 52.26 1436.15 0.01 Mean 1655.71 308.60 1865.55 1.208 SD 364.73 157.57 481.72 0.837 C.V 22.03 51.06 25.82 69.29 Among the four Private Airline companies, Interest Earned of Jet Airways Limited is more consistent as the co- efficient of variation is less. Kingfisher Airlines is having better Interest Earned as the average is higher. The following table 4 gives the particulars of Selected Private Airline companies Other Income Earned during the period of 2008-2009 to 2012-2013. International Journal of Management and Social Science Research Review, Vol.1, Issue.9, March- 2015. Page 42 Research Paper IJMSRR Impact Factor 0.348 E- ISSN - 2349-6746 ISSN -2349-6738 Table - 4,Other Income Earned by the Selected Private Airline Companies (Rs.In crores) Year Jet Spice Jet Kingfisher Jagson Airways Airlines Airlines 2008-2009 443.75 143.59 598.90 034 2009-2010 249.82 97.03 333.30 0.39 2010-2011 250.57 61.01 81.58 1.07 2011-2012 252.71 71.32 330.50 17.66 2012-2013 657.12 75.85 182.08 0.49 Mean 425.39 89.76 305.27 3.99 SD 177.12 32.83 195.48 7.65 C.V 41.64 36.58 64.04 191.73 Among the four Private Airline companies, the other income earned of Spice Jet Limited is more consistent as the co-efficient of variation is less.
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